FxWirePro: GBP/NZD downtrend loses steam, remains on bearish path

• GBP/NZD dipped on Thursday  as renewed geopolitical tensions   weighed on risk-sensitive currencies.

• Iran and the U.S. intensified attacks, further undermining last month's truce, while Tehran denied President Trump's claim that it had released a U.S. citizen.

• The re-escalation has once again largely halted traffic through Hormuz, the world's most important shipping route for oil and gas, pushing up global energy prices.

•Tehran resumed its blockade of the ​Strait of Hormuz and Washington again blockaded Iranian ports from Wednesday.

• Oil prices edged slightly lower and U.S. Treasury yields retreated from session highs, overall market sentiment remained fragile..

• Immediate resistance is located at 2.3238 (38.2%fib), any close above will push the pair towards 2.3302(SMA20).

• Immediate support is seen at 2.3005 (50%fib) and break below could take the pair towards 2.2965(Lower BB).

Recommendation: Good to sell around 2.3080 , with stop loss of 2.3180 and target price of 2.3000